Form 4: Altria Director Munoz Reports Stock, Phantom Unit Changes

Altria Group Director George Munoz reported changes in his beneficial ownership, including the disposition of 9,750 phantom stock units for cash and an updated holding of 123,030 common shares.

Summary

• George Munoz, a Director of Altria Group, Inc. (MO), reported changes in his beneficial ownership of company securities.
• He now directly owns 123,030 shares of Common Stock.
• This common stock balance includes 7,714 deferred shares held in the Stock Compensation Plan for Non-Employee Directors.
• The deferred share balance increased by 1,502 shares through dividend reinvestment and decreased by 22,122 deferred shares distributed to his investment account since May 15, 2025.
• An additional 807 shares were acquired through dividend reinvestment on shares held in investment accounts since May 15, 2025.
• Munoz disposed of 9,750 phantom stock units on January 15, 2026, which were settled in cash.
• The phantom stock units were settled at an average price of $61.3925 per unit, based on the average of the high and low price of Altria Group, Inc. common stock on January 15, 2026.
• Phantom stock units convert to the cash value of the issuer's common stock on a 1-for-1 basis.
• The cash settlement was pursuant to the Deferred Fee Plan for Non-Employee Directors, as elected by Munoz in 2019.
• Following this transaction, Munoz beneficially owns 14,549 phantom stock units directly, held in the Deferred Fee Plan for Non-Employee Directors.
• This remaining phantom stock unit balance includes 1,222 share equivalents acquired through dividend reinvestment since May 15, 2025.

Sentiment

Score: 5

Explanation: Neutral. This Form 4 details a routine, pre-planned disposition of phantom stock units for cash by a director, which is part of a compensation plan elected in 2019. This is balanced by continued dividend reinvestment, indicating no strong positive or negative sentiment regarding the company's immediate prospects.

Positives

• Continued dividend reinvestment in both deferred shares (1,502 shares) and investment accounts (807 shares) indicates ongoing confidence and investment by the director in the company's equity.
• The remaining beneficial ownership of 123,030 common shares and 14,549 phantom stock units demonstrates a significant stake held by the director.

Negatives

• Disposition of 9,750 phantom stock units for cash, although a pre-planned settlement, represents a reduction in derivative holdings.

Future Outlook

NA

Industry Context

This filing is a routine insider transaction report and does not provide information related to broader industry trends or competitive landscape.

Stakeholder Impact

• Shareholders: Provides transparency regarding a director's beneficial ownership and compensation-related transactions, which is standard for corporate governance.

Key Dates

Recommendation

This Form 4 details a routine, pre-planned disposition of phantom stock units for cash by a director, alongside ongoing dividend reinvestment. Such transactions are typically part of a director's compensation plan and do not inherently signal a change in the company's fundamental outlook or warrant a change in investment recommendation. The net effect on beneficial ownership is a slight reduction in derivative holdings, but overall direct common stock ownership remains substantial, supported by dividend reinvestment.

Keywords

Altria Group, MO, George Munoz, Form 4, Insider Trading, Beneficial Ownership, Phantom Stock Units, Common Stock, Director, Stock Compensation Plan, Deferred Fee Plan